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to beat president obama. a look at the war in afghanistan. now the longest war. how do we get out? does obama's policy differ from president bush's and what is the effect for generations to come? joe and mika and willie join in the conversation later this hour. we begin with the debt crisis. they are trying to make a deal on the deficit. houses of congress are rolling out separate compromises to safe off a default. harry reid is meeting with mitch mcconnell to craft a solution to appeal to both parties. according to reports, this would do the following. it would allow the debt ceiling to be raised three times for a total of $2.5 trillion. in exchange, some $1.5 trillion in spending cuts would be enacted. the plan would be established to identify new deficit cuts. proposal, already, getting a lukewarm response from the fellow republicans. among them, the freshman snar mark arubio and tom coburn. take a listen. >> it gives the president the ability to raise the debt limit. the debt limit isn't the problem. the problem is the debt. the plan, as outlined to me isn't a credible solution. >>
. obama says only courage will head off financial default now. assassination in afghanistan. mandy clark reports that president karzai's brother was gunned down. laid off on day one. cynthia bowers in a city so strapped it's firing cops as soon as they get their badge. and the first, first lady of the modern age, bill whitaker remembers betty ford who forever changed how america views the white house. captioning sponsored by cbs this is the "cbs evening news" with scott pelley reporting tonight from washington. >> pelley: good evening. it was a striking thing, today, to hear the president of the united states say that he cannot guarantee the 27 million social security checks that you are due to be mailed august 3rd. august 3rd is the day after the government will default on its debts if democrats and republicans do not agree to increase the nation's borrowing limit. both sides say they won't raise the limit without a deal to massively cut the federal deficit. a u.s. default would shake the world economy. the stakes could not be higher. time is growing short. in our interview, president o
, in the strongest possible terms, the assassination in afghanistan today of president hamid karzai's half brother, ahmed wali karzai, seen as the most powerful man in southern afghanistan was shot in his own home in kandahar by a man he knew and trusted. mandy clark is in kandahar. >> reporter: ahmad wali karzai was rushed to this kandahar hospital but with multiple gunshot wounds there was no chance he would survive. outside in the street lay the body of the man who had gotten through a tight ring of security to gun him down. >> my younger brother was murdered in his house this morning. president hamid karzai announced. ahmed wali karzai was a tribal council leader and considered the most powerful man in southern afghanistan. the attack stunned the city that has been hit by a series of targeted assassinations. this is the place, headquarters in kandahar city. moments ago word of the shooting came through as the police chief was wrapping up his interview with us and he rushed out to take charge. general abdul raziq told us that security was improving in the city when his two cell phones lit up at
, the which he and debt crisis are weighing heavily on u.s. troops in afghanistan. and the top question on their minds saturday, even as bombings rock the city around them, was the top u.s. military officer couldn't answer. a question he couldn't answer. will we -- these are soldiers in afghanistan with bombs bursting around them and here is what the chairman of the joint chiefs of staff said. and i quote, i actually don't know the answer to that question. i noknow mike mcmullen responde while at the same time saying continuing to work each day, wearing the uniform, listening to bombs go off around them. that's why today we have with us some -- what is referred to you by you press folks as real people. i guess we're not. we have students like laura and sydney, veterans like bill and roger and carlos, arianna, who is a senior, guillermo, who say senior, lucia, a senior, felicia is a senior, mary ellen is a senior, alisa is a senior, they're here representing the millions of people around this country who are as brave as the soldiers on the front lines in afghanistan. we don't have time f
.a. estimates that the number of iraq and afghanistan veterans in its health care system will reach well over half a million at some point next year. that is this aisn' this a 100% e 2008. this is a big challenge and one that we have no choice but to step up to meet if we're going to avoid some of the same mistakes we saw with the vietnam generation. that's why this bill includes nearly $3 billion to meet the health care needs of veterans who served in iraq and afghanistan, which is a nearly $600 million increase over last year. but it is more than just the sheer number of new veterans that will be coming home to the v.a. in the near near future. it is the extent of their wounds, both visible and invisible, that will require an untold resource from our nation. you know, through the wonders of modern medicine service members who would have been lost in previous conflicts are coming home to live productive and fulfilling lives. but they will need a lifetime of care from the v.a. and that's why part of this bill includes significant investments for research in a number of areas, including trauma
in the attacks in afghanistan or to bring that message home, you need us i >>dave: and how big a concern is an attack in the united states on the 10th anniversary? >>guest: this is the first anniversary a sense of celebration and resolution and every member of al qaeda is going to want to spoil that. so you will have home green terrorists that will look at that date. >>dave: so all eyes on that date and that will be our tightest secured date so a difficult day to pull anything off? >>guest: it is possible but there are so many soft targets and the bar is so low for al qaeda because they have not pulled off another september 11th it does not have to be in new york city. >>dave: ryan, thank you for being here. millions of americans are locking for america but how can you separate yourself from the field? why who you know could be more important than what you know. giving them a new choice. we'll deliver better service, with thousands of new cell sites... f greater access to all the things you want, whenever you want them. it's the at&t network... and what's possible in here is almost impos
. when you don't pay for two wars in iraq and afghanistan and you borrow all the money from china, you're going to have to pay for that at some point. >> mentioning social security. in the president's deficit commission report, they say, among other things, without action, the benefits currently pledged under social security are a promise we cannot keep. do you think changes need to be made to social security for future generations or not? >> absolutely. you said the operative word. future generations. we're not talking about balancing the budgets today for future generations. we're doing it because if we don't do it today, the person who has to pay that mortgage tomorrow will find interest rates will have shot up. we're trying to take care of past debts. remember, the debt ceiling vote is about past debts. it's not about future negotiations. social security will be good for the next quarter century. we should do something to make sure after that quarter century, we're not paying $0.78 on the dollar in deficit. >> last year, for the first time since the 80's, social security paid in
afghanistan and iraq is just not credible. we don't know what the obstacles are going to be in afghanistan and possibly iraq. we also don't know what we might have to do in the middle east going forward. afghanistan is not settled, mr. president, and we have to have a certain level of stability on the ground in afghanistan or we will have wasted the billions that we have already spent and the lives of our military personnel in afghanistan because it will go back to the way it was before, a center for terrorism that will come to our country or can come to our country. it did once already and we have been over there to try to wipe out al qaeda and the taliban, which has been in league with al qaeda. we have been over there losing american lives and spending american taxpayer dollars to protect our coury from another 9/11. to say that we're going to cut $1 trillion in the future over the next ten years when we aren't placing the emphasis on what are the conditions on the ground is not sound policy and it's certainly not sound national security policy. so that's illusory. and then the other pa
for two wars in iraq and afghanistan and you borrow all the money from china, you are going to have to pay for it at some point. >> bret: you mention social security in the president's deficit commission report, they say among other things without action the benefits currently pledged under social security are promise we cannot keep. do you think changes need to be made to social security for future generations or not? >> absolutely. you said the operative words. "future generations." we're not talking about balancing the budgets today for future generations. we're doing it because if we don't do it today, the person who pay the mortgage tomorrow see it shot up. this is not about the future obligation. social security will be good for the next quarter century. we should do something after the quarter century, we are not paying 78 cents on the dollar but we're paying 100% on the dollar. >> bret: last year for the first time since the '80s, social security paid out more benefit than it took in payroll taxes. correct? >> true. >> bret: essentially, correct me if i'm wrong, the social security
trillion. the ryan budget contained a $1 trillion in savings winding down the wars in iraq and afghanistan. majority leader kantor acknowledged the ryan budget counted toward deficit reduction. drawing down the troops would save more than $1 trillion over 10 years. we have given them everything they asked for. $2.70 trillion, dollar for dollar, there is no revenue. [unintelligible] in my caucus, somebody had an ipad and they read it today. the rating agencies are very nervous. there was a congressional hearing today. i do not have that, but the person testifying today said the one thing the markets demand is starting tond debate this thing again in a few weeks is not a certainty. [unintelligible] excellent question. we tried our best to have a trigger with some of the stuff that president obama worked on with republicans. they worked on the trigger. they could never get there because it would be so unfair if the committee did not arrive at a positive conclusion that the trigger would be all costs. that is really unfair. we cannot get from here to there after having already put to put $7 tr
misspent in iraq and afghanistan over a 10-year period. the "wall street journal" reporting they include $300 million for u.s. agency, agricultural development project with a "burn rate" of million dollars a day that paid afghan farmers to work in their own field, it covers subcontractors in eastern afghanistan, paying 20% of the contract to insurgents for protection and touches on cases where host government was unable to sustain a project like costly water treatment plant in iraq that produced murky water and lacked power and construction of afghan military economy that would cost $40 million to operate and maintain, far beyond what the afghan government could afford. 75% of the total contract dollars spent to support operations in iraq and afghanistan have gone to just 23 major contractors. the federal work force assigned to oversee the contracts hasn't grown in parallel with the massive growth of wartime expenditures. read more about that in the "wall street journal" this morning. one more tweet, if i can, just to finish off the discussion. adding this from darrell price, saying: an
or afghanistan. at one point the c.i.a. director, leon panetta, speculated that if osama bin laden had been captured alive, he would have been sent to guantanamo. over time, it became clear that the administration did not have a policy in place that could address this circumstance. and so without a straight answer, we were left in the dark on how this administration would handle an enemy combatant captured overseas. finally after waiting 18 months, i think we have our answer. as was disclosed yesterday, he has been in military custody for months during which time he has been interrogated by various law enforcement agencies. however, now he has been read his miranda rights. this is a somalian terrorist captured overseas has now been read his miranda rights. why? why? why is a man who is a known terrorist and member of the united states -- and enemy of the united states being afforded the protections of an american citizen? and now he is in the hands of civilian authorities and will be given all the rights according to a u.s. citizen in a civilian court. it is truly astonishing that this admi
who lost his life when his offspring helicopter tragically went down in afghanistan. and now his family and friends have found a way to honor his life and sacrifice through an annual event that is now used to raise funds for a college scholarship awarded to students at eden prairie high school where randy graduated in 1985. in addition to this scholarship, his run seeks to raise awareness of the contributions of our men and women in uniform that they make every day to keep america free. the major may not live us but his memory lives on through his family and friends and his community and through the scholarships through the local high school students that share his values. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. for what purpose does the gentleman from ohio rise? mr. kucinich: mr. speaker, i ask permission to address the house for one minute. the speaker pro tempore: the gentleman from ohio is recognized for one minute. mr. kucinich: as congress struggles to come up with this deal over government debt, we all know that all we had
on a firing line somewhere in afghanistan realizing today could be their last day on this earth so america can live to see another day. that's how serious the consequences are. so, mr. president, i would suggest that instead of being paralyzed by our analysis of where we differ, let's become analysis of where we find common ground and we do on not raising the debt ceiling. we know we should raise it. we know we can find up to $2.8 trillion, and hopefully more, in cuts in the deficit and spending over time. we know for a fact we have to extend the debt ceiling to some point in time. and if it's passed -- past the presidential election of 2012, let's ensure that each body in regular order can vote on a constitutional amendment to balance the budget. which leaves us with one difference and that difference is what is the enforcement mechanism on the $1.8 trillion cut that the joint committee, equally divided, is supposed to come on? i submit we can find the common ground to find the silver bullet that causes that to happen. and i would encourage all of us to forget now where we differ, to recogniz
and women, but what i have found is that it can be the poorest villagers in afghanistan or somebody in europe there realizes that the facts show you that this leads to better economic development. it leads to more income for a family. and that starts to drive a whole series of willingness to engage women more effectively. we're looking at issues of everything from the effect on world schooling -- girl schooling, the infant mortality issues, maternal health issues, a critical aspect for women in developing countries of opportunity. some of the topics that we talk about property ownership, ability to borrow, and so it varies by country and experience. but as we do more research, we learn things about, for example, the benefits of working for -- through women head of households. that data is now quite extraordinary and compelling from a variety of sources, and this is driven by some of the cash transfer programs in latin america, you put the money through the women head of households, and the use of money for children in the family and for community is many multiples of the male head o
, for example, thel war in afghanistan are committing the united states of america to spending $10 billion a monthhis em gomen in uniform. cin members of a family who are ovei there waging this war. they voted for that. money president obama has said toe m them, the bill is coming in for the war inre afghanistan. sayine i have to very money to pay for it. fo fo houseeb and senate who voted for the war not to understand say wr won't pay the bills.nistan. we want allow you, mr. president to sustain our military force io afghanistan. that is literally what we'ren do taught about here in this debate. the american people are turning to come to understand it because when you first ask a person, tht obvious answer is no, are you crazy, senator? by what i want one of them in this country? we need more less stack, notts e more. when you go to the point ofjusto explaining that this is to pay d for things we authority -- that's the authority incurred, it isn't just a wage of war. 65a it is a debt incurred to pay fot medicare. we staaidl a to 65-year-olds acr america, you get medicare that will be the
is in afghanistan, visiting the troops. the question they are asking, will they be paid if this default happens? let me put this plainly. if senator reid's plan passes as they pay down their domestic spending spree with the blood and sweat of our troops, the military will break. we have allowed ourselves to be distracted from the massive entitlement programs that are actually bankrupting the country. that stops here. the budget passed last night shrinks the government and, most importantly, holt's three years of neglect to our armed forces. thank you. now i would like to ask the gentleman from arizona -- i mean virginia, i do not know how that happened, the chairman of our readiness subcommittee. >> i think that this is an important issue. over the last several weeks we have heard a lot about the word compromise. i think that the american people realize that overlaid on that are two other words. we need to make sure that we are having common sense on whatever compromise that we have. we do not understand why it is the democratic administration constantly believes we need to compromise our national s
of the wars in afghanistan and pakistan. >> still not getting serious. >> i went away from fuzzy. >> is that like jerry at trick math? >> yes. >> are you surprised they don't have a deal today? i actually really -- i mean, i really thought -- >> i would be shocked if they don't have a deal in the next two or three days. again, republican freshmen may have a big ideology difference with barack obama and his world view, and the divide is no greater than ronald reagan's was with tip o'neal in 1983 when they sat down, and they did a kneel. yes, you differ with barack obama and the democrats, but -- >> usually you are good at seeing somebody's angle. like you know what their angle was. what is the angle here? i don't get it. >> these republicans believe this is their only opportunity -- >> are they so stuck to the contract with the tea party they cannot think outside the box for the good of the country? seriously? >> can i finish? you asked a question and i need to finish. they understand one thing. >> what do they understand? >> they are dead right about this. this is their best chan
wars in iraq and afghanistan and participate in the nato exercise in libya. that's pretty expensive undertaking. we know that that has gone up 84%, military spending, in the last ten years, gone up 84%. we know at the same period of time that spending on mandatory programs -- that would be like social security, medicare, medicaid, agriculture payments, veterans payments. spending for those payments over the last ten years has gone up 32%. and we know that the rest of the budget, the so-called domestic discretionary spending which would include things like building highways, keeping federal prisons open, providing pell grants to college students, giving children from poor families early childhood education, putting money at the national institutes of health for madam chair research. that's one section of the budget. it comprises 12% of our budget. in the last ten years that part of our budget has gone up zero percent. no increase in spending in that section. most of our spending goes into the military, 84% increase over ten years, and mandatory programs, 32% over ten years. the bigge
to report to the american people exactly how this is going to happen. >> chairman mullen is in afghanistan. he told our troops fighting there he didn't know the answer to when and where they would get paid. will the president insist that if there's a default, the troops will get paid? >> again, the treasury department -- by the way, whatever admiral mullen talked about, it's outrageous that here we are, 60 hours away from the united states of america potentially defaulting for the first time. and the reason we're here is that, particularly republicans in the house, but republicans generally had been unwilling to compromise. so, at the appropriate point, if we get to that point, the treasury department will lay out clearly for the american people, most importantly for investors, folks around the world, exactly what would happen if we default. >> i want to be clear on what the president would accept in terms of cuts, in the first stage or the second stage. in other words, that what's called in washington a trigger, which means that whatever force's congress's hand, if they don't continue to
means for funding troops in afghanistan. this morning many soldiers are asking, will we get paid? >>> good morning, everyone, i'm alex witt. welcome to msnbc saturday. we're approaching 10:00 a.m. on the east coast, 7:00 a.m. out west. congress has set itself up for a day of infighting today as the debt deadline draws dangerously close. the senate will start its session at 1:00 p.m. eastern and it's planning to debate a debt bill for at least 12 hours before holding a t
and afghanistan and places around the world. there has to be hope. the reason why i know there is hope is because my own industry, the energy industry, just created a program for veterans who jobs through the energy industry. i'm asking them to create one for 18 to 35-year-olds. businesses are still alive and well. the financial services, the banking entity must be involved in providing access to credit for our smaller businesses who are creating jobs. we are alive and well. and so i believe what we should do is to go forward with a package that is reasonable. that lifts the debt ceiling as we did for everyone else. i would vote for a clean debt ceiling. lift it up. then begin to with great common sense plan our budget and our cuts. mark zahny -- zandi has said that. an economist who worked for a number of republicans, such as john mccain, former presidential candidate. why are we trying to reinvent the wheel? all economists will say, you don't make immediate cuts in this fiscal year, you project them out. just like budget and household. they move out. they do what they are going to do for the mo
and the war in afghanistan? >> we will continue to help govern so they have a legitimate chance to continue hold on to their liberty. you have to look at in afghanistan is we have to watch out for a precipitous withdrawal, which would allow the taliban to come back and continue to create a new harbor for terrorism and to use their ability to destabilize the government of pakistan. >> have you met world leaders? what is your impression of them? >> i have that world leaders, and i do not worry about what i think of them. i do not believe that that is what is important. i look at the strategic interests of the united states and our allies and how this nation can either mutually cooperate or mutually conflict. >> finish the sentence -- "the state of the country today is what?" >> an opportunity waiting to be seized. >> why has it not been seized? because a lot of institutions such as the government and big banks have failed us, and i think the crushing weight of the government and the crushing weight of the failure of the financial markets have had -- have helped to inhibit the american people
with a situation like 9/11 or the war in iraq or afghanistan are terrorism? what if there is unforeseen event that would force government to spend more money than it takes an? guest: the legislation would have to be written to be including situations when we get like that. i am no expert on the u.s. economy so i want to put that disclaimer out there right now. but we are spending more than we're taking in and it is not sustainable. we cannot continue down this path. when you have the medicare board of trustees coming out in the month of may and releasing a report that says, if medicare is not reformed in 2024, it will be bankrupt, it is irresponsible for washington not to do anything about their when you know you are facing this problem. we need to deal with that. we need to do some entitlement reform across the board. we cannot balance the u.s. budget by cutting discretionary spending. host: i realize that this is still coming together so the information continues to evolve. but based on what we hear this morning, it is a $1.4 trillion increase in the debt limit immediately. based on misinfo
iraq and afghanistan sooner than many here would like or that the president would like, and save substantial sums if we do that. most certainly if we're going to go forward with shared sacrifice, yes, we do have to ask billions, despite all of their power and all of their campaign contributions and all of their lobbying, maybe the billionaires who are doing phenomenally well may have to contribute to deficit reduction. yes, maybe those companies that stash their money in tax hyphens in pwerpld and the cayman eye hraldz -- in bermuda and the cayman islands, maybe they are going to have to start paying their fair share. on my web site which is, i put a small letter which said to the president, mr. president, stand tall. take on these right-wing ideologues who want to make devastating cuts to working families. and in a couple of weeks we have 135,000 signatures on that letter, and i think that letter reflects what the american people want. they want shared sacrifice. they do not want to see the elderly, the kids or working families being battered more and more, es
, secretary panetta and the president discussed implementation of our strategy in afghanistan, including consolidation and training afghan security forces, the reduction of u.s. troop levels that the president announced last month and process of transitioning lead security to the afghan government. the president thanked everyone for their service and said that he looked forward to working with them closely as they take up their important positions. >> any discussions about continuing concerns about weakening of the effort? >> not in this meeting. i believe we addressed that issue. the president feels very strongly that because of the success we have had in making progress towards achieving our goals, defeating, disrupting -- dismantle and defeat, reducing the -- stopping the momentum of the taliban and training of afghan security forces, we can begin to draw down our surge forces. 10,000 this year and 30,000 next year. >> has treasury secretary geithner told the president that he would like to leave -- >> not that i'm aware of no. >> i think he will be here for the foreseeable future. [c
the savings would come from iraq and afghanistan and don't materialize and votes on a balanced budget amendment but what the democrats reviews to do is tie an increase in the debt ceiling to passing the balanced budget amendment. you can see the rough outlines of a deal. any deal would have to go back to the house. would these conservatives especially tea party members that speaker boehner had to make concessions to, what would they do if it comes back monday night just hours before the deadline, would they vote for that? >> 201 votes in favor of this legislation. right now 196. take a look. as of now 12 republicans have bolted from the leadership from john boehner, the speaker, and eric cantor the majority leader and right now 12 republicans have voted against and still not there. 216. there is still plenty of time left. nine minutes plus for this vote to conclude. it's a fascinating development as you say. by the way, we're told john boehner was mulling around and didn't seem overly concerned but it is still not a done deal yet. once this does pass, john, assuming it passes, gets 21
to the president of the united states, as an example, we want you to continue to wage war in afghanistan at the cost of $10 billion a month, this president knows that he will have to borrow about $4 billion a month to meet that congressional appropriation. you see, we borrow about 40 cents for every dollar we spend. similarly, when it comes to the payments that we make to our veterans, who are disabled, we have promised them we will pay you, because you served our country and you lost a limb or you were injured and we will compensate you for that loss for the rest of your life. we need in making that commitment that we're also making a commitment to borrow the money necessary to do it. so periodically a president will come to congress and say, i understand our obligations which you have sent to me and i have approved, and now i ask you to extend my authority to borrow the money to meet those obligations. that has happened 89 times since 1939. since we passed this law, presidents of both parties have come to congress and asked for that authority. and aceman as i mentioned, not d congress
of iraq and afghanistan. today we just voted h.r. 2650 to, in fact, establish a club of losers for these patriots who have served their country. what a shame. what a shame. i yield back. the speaker pro tempore: for what purpose does the gentleman from louisiana rise? without objection. mr. scalise: mr. speaker, the house finally passed a real plan that addresses this nation's spending crisis. i think many american families know that washington has a spending problem because they have been living within their means. they have wen been trying to figure out to do what what they've got. and we passed a plan that actually would cut, cap and balance and controls spending in washington. and what's the president's plan? we have still yet to hear his plan. we hear speeches and class warfare where the president puts one part of america against the other. if he confiscated every dollar, it wouldn't address the problem. it's time to get real. if the president wants to get serious about addressing the spending problems, it's time to confront what cut, cap and balance does and tell washingt
-in-law in afghanistan and my sister works as physical therapist with a young man who just lost his leg last year in iraq. now if a man can give his legs up for this country, why can't the wealthy give up some of the tax loopholes, spread a little bit of this around. it is unbelievable the fact -- we don't even have to raise taxes on anybody. just make them pay their taxes. a lot of republicans and small businesses pay their taxes but the super rich don't. and i don't think people understand the kind of tax loophole that is are in shelters. host: we're moving on to foster in centerville, georgia, on our line for democrats. go ahead. caller: hi. how are you doing? i'm just wondering now, now we actually elected people to go to congress to balance the budget and pay the bills but do they realize instead of making an amendment, do they already have the authority to pay the bills? host: well now have you let your representative or senator know how you feel about this? caller: we certainly have. me and my girlfriend got together and we got up a sheet with all the republicans representatives. we called all the
wars, afghanistan and iraq. borrowed money to do it. these are past expenditures. here we are, days away from the default crisis, where our republican friends are using this moment in time, where we're not really discussing tomorrow's expenditures, we're talking about yesterday's expenditures and they're saying, give us our way our else america defaults. mr. welch: representative garamendi, i think the message from the democrats in the house of representatives is straightforward and logical. mr. tonko: we said save medicare, make it stronger. then we talk about cutting, cutting programs that don't create jobs. do those cuts where there's no jobs created. where there are, save those programs, strengthen them, provide for jobs by investing in education, in innovation, and in infrastructure. and it's very easy when you take the education investment, the infrastructure investment and certainly the education investment that equals jobs for americans. middle class americans. and that's what it's all about. if we create jobs, it drives down the unemployment factor, drives down the deficit.
and afghanistan, saving $1 trillion in the process. our troops in the middle east deserve our admiration and praise for so successfully carrying out their missions. we must, however, continue to press for a strategy that will bring our troops home as soon as we safely can. the reid deficit plan would find an additional $40 billion in savings by cutting fraud and abuse in tax compliance and a number of non-defense federal programs and $60 billion in other savings, including cutting unnecessary spending on agricultural subsidies and auctioning off electromagnetic spectrum that the government currently holds. finally, by cutting the government by over $2 trillion, we'll have to borrow less money than anticipated and that will save an additional $400 million -- sorry, $400 billion in projected interest costs. in total, the senate democratic plan on which we will vote would cut the deficits by $2.7 trillion over the next ten years. while senator reid's proposal would not address the tax gimmicks and loopholes throughout our tax code that help favor the well-connected, this omission does not m
raging abroad in iraq and afghanistan, also unpaid for. and a new entitlement program passed in the past congress unpaid for. and a wall street that instead of being a free market was a free-for-all market. you put that all together and that's what we're coming out of. so i'm wondering, you know, your answer to me suggests that there isn't anymore monetary policy that is going to come forward that could in essence seek a more faster, more robust recovery with a greater job growth? >> well, as i said in my, in my testimony, we, given that there's a lot of uncertainty how the economy will evolve, we have to keep all options, both for tightening and for easing on the table. we're doing that. but, again, we are already providing an exceptional amount of accommodation and, as you know, recovery is still pretty slow. >> now i want to turn to the question of the debt ceiling. i know you discussed that quite a bit. i find it interesting under president bush's years, he raised the debt ceiling to the tune of about $5.4 trillion, during his period of time. i didn't hear the same comments then that
of the money that we are going to save by not continuing operations and iraq and afghanistan for the next ten years at their current level. that that was also in the rhine and budget. as it turns out, the rise in budget receives $2.2 trillion in savings without using that accounting gimmick triet compared to the president's 2011 number, the ryan budget saves $6.2 trillion without using that accounting gimmick. with the ryan budget does -- if you look through the various charts and pages of it -- it also has various comparisons, including pretty much the obligatory comparison to what is called the current law budget that cbo scores, and in that he compared because that's what cbo does the oco cost for the overseas contingency operation cost, but he did not utilize that in order to achieve the savings in his budget. so i had made the same mistakes others had in assuming what we were told was correct. paul ryan made it clear no, that wasn't correct. when we criticized the bill that the majority leader has brought up for use in over a trillion dollars in savings from that oco account, i think we
Search Results 0 to 47 of about 48 (some duplicates have been removed)